Berry Global Group (BERY) Upgraded by Zacks Investment Research to Buy

Berry Global Group (NYSE:BERY) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued to investors on Monday. The brokerage currently has a $61.00 price target on the industrial products company’s stock. Zacks Investment Research‘s price objective indicates a potential upside of 11.31% from the stock’s current price.

According to Zacks, “Berry Global Group, Inc. is a manufacturer and marketer of value-added plastic consumer packaging and engineered materials. The Company’s products include engineered materials, non-woven specialty materials and consumer packaging. Berry Global Group, Inc., formerly known as Berry Plastics Group, Inc., is headquartered in Evansville, Indiana. “

BERY has been the subject of a number of other reports. Royal Bank of Canada increased their target price on Berry Global Group from $65.00 to $69.00 and gave the stock an “outperform” rating in a research note on Monday, November 20th. BMO Capital Markets raised their price target on shares of Berry Global Group from $63.00 to $65.00 and gave the stock a “market perform” rating in a research note on Monday, November 20th. SunTrust Banks raised their price target on shares of Berry Global Group to $69.00 and gave the stock a “buy” rating in a research note on Tuesday, November 21st. BidaskClub raised shares of Berry Global Group from a “hold” rating to a “buy” rating in a research note on Wednesday, October 25th. Finally, Citigroup raised their price target on shares of Berry Global Group from $68.00 to $71.00 and gave the stock a “buy” rating in a research note on Monday, November 20th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and twelve have given a buy rating to the company. Berry Global Group currently has a consensus rating of “Buy” and a consensus target price of $68.00.

Berry Global Group (BERY) traded up $0.47 during midday trading on Monday, reaching $54.80. The company had a trading volume of 1,954,663 shares, compared to its average volume of 1,186,992. Berry Global Group has a twelve month low of $47.19 and a twelve month high of $61.71. The company has a current ratio of 1.72, a quick ratio of 0.96 and a debt-to-equity ratio of 4.69. The company has a market cap of $7,120.00, a PE ratio of 16.41, a price-to-earnings-growth ratio of 0.73 and a beta of 0.99.

Berry Global Group (NYSE:BERY) last posted its earnings results on Wednesday, February 7th. The industrial products company reported $0.67 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.65 by $0.02. Berry Global Group had a return on equity of 47.10% and a net margin of 6.13%. The business had revenue of $1.78 billion during the quarter, compared to analysts’ expectations of $1.79 billion. During the same period in the prior year, the business earned $0.50 EPS. Berry Global Group’s revenue for the quarter was up 18.2% compared to the same quarter last year. analysts anticipate that Berry Global Group will post 3.73 EPS for the current fiscal year.

In other news, CFO Mark W. Miles sold 10,000 shares of the firm’s stock in a transaction that occurred on Monday, November 27th. The shares were sold at an average price of $58.54, for a total transaction of $585,400.00. Following the completion of the transaction, the chief financial officer now directly owns 52,916 shares of the company’s stock, valued at approximately $3,097,702.64. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 3.00% of the stock is owned by company insiders.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in BERY. Atlantic Trust Group LLC boosted its holdings in shares of Berry Global Group by 184.5% in the 3rd quarter. Atlantic Trust Group LLC now owns 861,120 shares of the industrial products company’s stock valued at $48,784,000 after buying an additional 558,411 shares during the last quarter. Renaissance Group LLC acquired a new stake in shares of Berry Global Group in the 4th quarter valued at approximately $27,153,000. Victory Capital Management Inc. boosted its holdings in shares of Berry Global Group by 119.5% in the 3rd quarter. Victory Capital Management Inc. now owns 322,350 shares of the industrial products company’s stock valued at $18,261,000 after buying an additional 175,522 shares during the last quarter. Boston Partners boosted its holdings in shares of Berry Global Group by 4.1% in the 4th quarter. Boston Partners now owns 4,089,152 shares of the industrial products company’s stock valued at $239,911,000 after buying an additional 160,491 shares during the last quarter. Finally, BlackRock Inc. boosted its holdings in shares of Berry Global Group by 2.6% in the 4th quarter. BlackRock Inc. now owns 5,386,897 shares of the industrial products company’s stock valued at $316,046,000 after buying an additional 136,987 shares during the last quarter. 94.22% of the stock is owned by institutional investors.

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Berry Global Group Company Profile

Berry Global Group, Inc, formerly Berry Plastics Group, Inc, is a provider of value-added plastic consumer packaging, non-woven specialty materials and engineered materials. The Company offers products, such as closures, prescription vials, specialty films, adhesives, nonwovens, drink cups, containers and bottles.

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